SciQuest, a Cary technology company that went public in September partly to raise money for acquisitions, has done its first deal.
SciQuest announced today that it will pay about $13 million for AECsoft and a sister company. The firms develop technology that complement SciQuest's e-procurement software and services, which allow customers to buy products more cheaply online.
All 30 employees at Houston, Texas-based AECsoft will join SciQuest, which employs nearly 200 people.
The acquisition gives SciQuest "great new products and new customers," CEO Stephen Wiehe said in a phone interview. "The business is run very well from a financial point of view."